........The decision on invoicing in a particular currency depends on the outlook on the exchange rate; when sentiment is weak on rupee, an overseas seller will not like to have a sale invoice in rupees while the overseas buyer will prefer a foreign currency invoice. This stresses the need to build confidence among overseas entities to invoice in rupees with Indian companies. The need of the hour is to encourage importers, rather than exporters, to invoice in rupees which would reduce the trade gap in dollar terms..............
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